DBS Group Holdings, Southeast Asia's biggest bank, has agreed to pay $7.24 billion for Indonesia's Bank Danamon, offering a 52 percent premium for a middle-ranking lender with high funding costs, raising questions on the price.
The Islamic Bank of Asia, which is backed by Southeast Asia's top bank DBS, will focus on courting Gulf wealth and growing Islamic bonds, private equity and REIT deals to drive its business, its chief executive said.
The lender has str
DBS Group, Southeast Asia's largest lender, is shrinking its Singapore-based Islamic unit in yet another sign that the city-state's efforts to promote sharia banking is struggling.
Islamic Bank of Asia (IB Asia), in which DBS has a just ov
Emaar Properties, leading Dubai-based developer, has hired DBS, a leading bank specialising in Asia, to advise on the sale of Singapore-listed sports retailer RSH Holdings.
RSH Holdings is currently valued at $164 million, two sources told
Islamic Bank of Asia (IBA), a unit of Southeast Asia's largest bank DBS Group, on Thursday said its chief executive has resigned. The DBS group has a total exposure of about $1.28 billion to Dubai.
'We confirm that Vince Cook, CEO
The Indian rupee climbed to its strongest finish in over a week as investors poured funds into the record-setting stock market, brushing off concerns about new investment restrictions on unregistered foreigners.
The partially convertible r